H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, today inaugurated the Dubai Investment Week 2018, hosted by Dubai FDI, the investment development agency of the Department of Economic Development (DED). Organised under the theme ‘Investing in Future Transformations,’ the event explores the prospects for strengthening local and international partnerships for shaping the future of FDI across innovation, development and knowledge, and review the competitive advantages of Dubai as a major hub in the global economy and a model for smart and sustainable future cities. The opening was attended by senior government officials, decision-makers and leaders within the global investor community.

H.H. Sheikh Maktoum also launched the ‘Dubai Guide for Healthcare Investment 2018’, which was prepared by Dubai Health Authority to showcase investment opportunities in the healthcare sector and its sub-sectors; legislations that support the sector; and facilities provided by the Authority to investors.

The first day’s sessions explored the most important opportunities for public-private partnerships in Dubai and the UAE, which topped Arab countries in the World Bank’s Ease of doing Business Report 2017 with a global ranking of 26th. The sessions also highlighted the investment opportunities in strategic and globally emerging economic sectors in addition to developments in the domestic and global business and investment environment.

Sami Al Qamzi, Director General of the Department of Economic Development in Dubai, in his welcome address on the opening day, reviewed the latest figures on the volume of foreign direct investment (FDI) attracted by Dubai in the first half of 2018, which reflect the confidence of the local and international investor community in the economy of Dubai.

Al Qamzi said: “Dubai’s strong FDI performance emanates from the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and validates the efforts of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to make Dubai a major hub in the global economy and a preferred FDI destination as targeted in the Dubai Plan 2021.”

Al Qamzi added: “The Dubai Investment Week 2018 is of great importance as it coincides with the UAE Cabinet adopting a federal budget of AED 180 billion for the 2019-21 period. His Highness Sheikh Mohammed bin Rashid has announced that next year’s budget will be the largest in the history of the Union, accelerating the engines of development and economy, and enhancing the sustainability and global competitiveness of the UAE economy.”

FDI inflows to Dubai recorded a 26 percent year-on-year growth in the first six months of 2018, reaching Dh17.7 billion.

Fahad Al Gergawi, CEO of Dubai FDI, said: ” Dubai Investment Week will continue its pivotal role as an ideal platform to facilitate international investors’ access to promising opportunities in Dubai, which is steadily enhancing its global leadership in the ease of doing business and investment. This will lead to further FDI growth, especially in the value-added sectors and in the knowledge, technology and research fields, which are a cornerstone of the UAE Vision 2021 as well as the Dubai 2021 Plan.

“The impressive international presence in the Dubai Investment Week 2018 underscores the confidence of the global investor community in the local investment environment. Dubai has found its place among the top 10 FDI-attracting cities, according to the Financial Times – fDi Markets, which inspires us to strengthen the partnership with local and international investors and explore new horizons together, not only to keep pace with future transformations, but also to contribute to the pursuit of comprehensive and sustainable development goals, and stimulate investment in R & D, technology, innovation and space. ”

Sheikh Maktoum also attended a panel discussion featuring Minister of State for Artificial Intelligence Omar Al Olama, moderated by the Managing Director of the FDI Center, Andreas Dressler. The panel discussed the value added by artificial intelligence (AI) to the local economy, and the readiness of the UAE to adopt AI, as well as the sectors that are ready to implement AI over the next three years.

The opening day of DIW 2018 also saw Sheikh Maktoum bin Mohammed honouring the winners of the ‘Impact FDI Award’ in four categories. H.H. praised the efforts of the business community in deploying FDI towards comprehensive and sustainable development. Panasonic Avionics was honoured for the largest Software & Technical Services project, JSS International School for the largest Education project, and Foresight Group for the largest Headquarters project. DHL received a special recognition for the largest Reinvestment project.

The Dubai Investment Week 2018 has brought together 500 senior government officials, international investors, decision-makers, policy-makers, experts, pioneers and representatives of leading public and private companies to participate in its dialogue sessions, interactive workshops, closed meetings and field visits.